Pakistan, Korea sign Rs 10 billion loan agreement for the establishment of IT Park in Islamabad

An agreement has been signed between Pakistan and Korea for Rs. 10 billion loan in order to establish state of the art Information Technology Park in Islamabad. The park is in alignment with the vision of Prime Minister for a Digital Pakistan.

The ceremony happened earlier today where Ministry of Information Technology and Korea Exim Bank signed the agreement. Minister of Finance Ishaq Dar was also present at the ceremony where he shared his vision for digitally and financially inclusive Pakistan.

He said that 5,000 IT experts will be provided with jobs with the establishment of this IT Park. He added that additional IT Parks in Lahore and Karachi will also be established.

The Islamabad IT park will be set up in an area of 42 acres. Over 100 IT companies will be accommodated in this park. The IT park will have its own data center too.

The Minister expressed great interest in further collaboration with Korea and mentioned that Koreans helped construct Pakistan’s first motorway known as Islamabad-Lahore Motorway.

Representative of the Korean Exim Bank also expressed deep interest in economic and business opportunities in Pakistan. He mentioned that Pakistan is a home to over 2000 IT companies and universities are producing thousands of talented IT graduates every year.

He said the Korean Exim Bank is interested in helping Pakistan achieve socio-economic prosperity.